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Drinks: Britvic job fears as revenue falls

SOFT DRINKS group Britvic said that it is committed to the Irish market despite fears of job losses after revenues declined by 5.4pc.

The British manufacturer has taken an impairment charge of £104.2m (€123m) against the value of goodwill and property at its Irish business, which it acquired from CC for €249m three years ago.

The company said it had experienced another tough year of trading in Ireland and that Britvic had incurred restructuring costs of €5.7m in the past 12 months.



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Britvic booked a one-time impairment charge of £104.2m (€123.6m) on the value of Britvic Ireland's intangible and property assets, in addition to a £5.7m (€6.7m) restructuring charge.

The drinks company said it is pressing ahead with plans to invest in Ireland and will launch the popular US drink, Mountain Dew, in March or April next year.

Britvic Ireland's revenues declined by 5.4pc to €179m in the year to the end of September 2010, even though it achieved a 1.3pc rise in volume sales.

Chief executive Paul Moody said that Irish management are in talks with employees and their unions about changes at the business.

"We want to refocus the business for the Irish market," he said. "No one clearly anticipated the economic downturn and Ireland has felt it more keenly than other markets. This is not a quick fix."


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